• Assess whether the business has carried out any Relevant Activity• Assess the income generated from a Relevant Activity• Assess the adequacy of resources to carry out the Relevant Activities• Hold board meetings in the UAE• Submit the annual...
• Purchase’s goods or materials from a foreign group company and Distribute or sell those goods inside or outside the UAE (even if the goods are directly dispatched to the customer by the foreign group company).A UAE entity is...
The Relevant Activities assessment is what determines whether your business is subject to the Economic Substance Regulations (ESR). The purpose of the Regulations is to ensure that UAE entities undertaking certain activities report actual profits that are commensurate with...
• Assess whether the business has carried out any Relevant Activity• Assess the income generated from a Relevant Activity• Assess the adequacy of resources to carry out the Relevant Activities• Hold board meetings in the UAE• Submit the annual...
Natural persons, Sole proprietorship licenses, or any other business that does not carry out any of the above Relevant Activities. Licensees that carry out a Relevant Activity are required to file an annual notification. And if they earn income...
Most small businesses, if they are part of a foreign group, will probably perform either distribution or service center business activities. For this reason, and as an example, here is a brief explanation of these Relevant Activities. A UAE...
Economic Substance Regulations (ESR) The Economic Substance Regulations (ESR) regulations require certain businesses in the UAE to maintain and demonstrate adequate economic presence in the UAE in respect of the activities carried out. The goal is to ensure that...
Who should register ??? It is an obligatory duty under the Federal Decree-Law 20 of 2018 and Article 20(2) of Cabinet Decision No.10 of 2019. As part of its commitment to combat anti-money laundering and terrorism financing, the United...
The UBO regulation emanates from Anti Money Laundry regulations and it aims to enhance transparency and to develop effective regulatory mechanisms and procedures in this regard. Entities must maintain and file an Ultimate Beneficial Owner register which contains the...
The Ultimate Beneficial Owner is the natural person who has the ultimate ownership or control over an entity directly or indirectly. The Ultimate Beneficial Owner can be determined as follows; • A natural person who ultimately controls or owns...